XML 56 R30.htm IDEA: XBRL DOCUMENT v3.22.2.2

Segments (Tables)

6 Months Ended

Oct. 31, 2022

Segment Reporting [Abstract]

Financial Highlights

Financial highlights are as follows:

			Three Months Ended October 31,												Six Months Ended October 31,
			2022						2021						2022						2021
			Consolidated
			(in thousands)
Fee revenue			$	727,849					$	639,443					$	1,423,752					$	1,224,838
Total revenue			$	735,719					$	643,398					$	1,438,867					$	1,231,496
Net income attributable to Korn Ferry			$	73,541					$	75,772					$	150,788					$	150,595
Net income attributable to noncontrolling interest			1,074						560						2,363						2,134
Other loss (income), net			9,048						(5,066)						8,273						(9,513)
Interest expense, net			7,098						6,365						14,710						11,791
Income tax provision			28,886						26,145						55,112						50,024
Operating income			119,647						103,776						231,246						205,031
Depreciation and amortization			17,093						15,633						33,322						31,277
Other (loss) income, net			(9,048)						5,066						(8,273)						9,513
Integration/acquisition costs			3,411						1,084						7,016						1,084
Impairment of fixed assets			—						1,915						—						1,915
Impairment of right of use assets			—						7,392						—						7,392
Adjusted EBITDA(1)			$	131,103					$	134,866					$	263,311					$	256,212

___________________

(1) Adjusted EBITDA refers to earnings before interest, taxes, depreciation and amortization and further excludes integration/acquisition costs, impairment of fixed assets and impairment of right of use assets.

Financial Highlights by Operating Segment

Financial highlights by reportable segments are as follows:

			Three Months Ended October 31,
			2022																		2021
			Fee revenue						Total revenue						Adjusted EBITDA						Fee revenue						Total revenue						Adjusted EBITDA
			(in thousands)
Consulting			$	173,092					$	175,845					$	31,089					$	164,893					$	165,732					$	30,061
Digital			94,329						94,577						27,524						88,639						88,712						28,556
Executive Search:
North America			142,485						144,147						37,969						158,197						159,082						48,907
EMEA			44,645						44,919						8,081						42,434						42,571						7,663
Asia Pacific			23,408						23,523						5,834						28,257						28,267						8,201
Latin America			7,821						7,822						2,607						6,571						6,572						1,366
Professional Search & Interim			134,743						135,762						32,457						54,559						54,702						21,825
RPO			107,326						109,124						16,004						95,893						97,760						14,433
Corporate			—						—						(30,462)						—						—						(26,146)
Consolidated			$	727,849					$	735,719					$	131,103					$	639,443					$	643,398					$	134,866

			Six Months Ended October 31,
			2022																		2021
			Fee revenue						Total revenue						Adjusted EBITDA						Fee revenue						Total revenue						Adjusted EBITDA
			(in thousands)
Consulting			$	339,576					$	344,580					$	60,639					$	313,371					$	314,739					$	56,902
Digital			178,090						178,392						51,702						169,310						169,393						54,188
Executive Search:
North America			294,029						297,031						81,718						296,875						298,382						92,237
EMEA			91,701						92,248						16,596						85,181						85,414						15,248
Asia Pacific			49,789						49,975						13,185						56,960						56,999						16,521
Latin America			15,629						15,631						5,224						13,347						13,351						3,720
Professional Search & Interim			233,690						235,814						61,618						106,396						106,634						41,264
RPO			221,248						225,196						33,713						183,398						186,584						28,961
Corporate			—						—						(61,084)						—						—						(52,829)
Consolidated			$	1,423,752					$	1,438,867					$	263,311					$	1,224,838					$	1,231,496					$	256,212

X

- Definition

Tabular disclosure of financial highlights. Includes, but is not limited to, per share information, income and expense ratios, total return, capital commitment and fee waiver.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 205
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=25866437&loc=d3e10177-115837

+ Details

Name:	us-gaap_InvestmentCompanyFinancialHighlightsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration